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Matthew explains how to create a release of liability form in today's tutorial. He starts by directing viewers to a link for legal templates and navigating to the business forms section. He suggests using the search function to find "release of liability form waiver," recommending the general release option for this tutorial. Matthew demonstrates how to fill out the form by entering the name and address (using Texas as an example), detailing claims to be released, selecting payment type (money or item), and specifying a payment amount. He indicates that the agreement date and governing state will also be Texas, and concludes with the need for a witness or notary.